As the expiration day of current counsel contracts approaches, the California Public Employees’ Retirement System (CalPERS) has issued an RFP for five to ten law firms to handle its private investment matters.
The chosen firms will be advising the pension scheme on direct, co-investments and fund investments, with a focus on secondary markets. Also, they will be responsible for dealing with the “work-out” situations for its old funds, including breaches of contracts and fiduciary duty etc.
The new five-year counsel contracts will come into effect on 1 January 2019.
Platinum subscribers may click here for the CalPERS’s full profile, including key contacts, allocation strategy and fund investments.